From the following transactions as well as additional data, please complete the entire accounting cycle for Mike’s Plumbing of Prince Albert (use a chart of accounts similar to the one on page 222).

Adjusting Data
a. Plumbing supplies remaining at month-end were $328.
b. One month’s rent expired in May.
c. Amortization on office equipment uses the straight-line method, a life of five years, and a residual value of $500.
d. Amortization of plumbing equip mental souses the straight-line method, a life of three years, and zero residual value.
e. Salaries accrued amounted to 20% of the salaries paid on May 31.